Pensioners happy with P1k SSS pension hike

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MANILA, Philippine – Pensioners are happy with the P1,000 hike in their monthly pension.

Julio Villarias, a pensioner who has been receiving P3,000 as monthly pensions after his retirement as caretaker of a coconut farm in 2004 described the additional pension as a big leap to his family.

“I can now buy my medicines as prescribed for my diabetes and hypertension, before I ask my children to contribute to complete my prescription,” Villarias stressed.

This as President Rodrigo Duterte has approved a P1,000-increase in the Social Security System (SSS) pension, though it is only half of what the Congress has approved.

The Palace said the President approved a P1,000-pension hike this month with a corresponding 1.5% contribution rate hike in May 2017, and an increase in monthly salary credit to P20,000 from P16,000.

For Crestina Porras, a retired janitor in a government office the P1,000 increase means half sack of good rice for his family.

“When they previous administration said it was not ffeasible, I was hurt, but when President Rodrigo Duterte signed the increase, I really jumped for joy, It is a big help for my family,” Porras narrated.

SSS Chairman Amado Valdez in a news briefing in Malacanang said the initial P1,000-pension hike is  implemented this January will be followed by another P1,000-hike in 2022 or even earlier, in compliance with the congressional resolution.

“The first P1,000 [will be implemented] this January. We projected the next P1,000 in 2022 but if we are able to implement and get favorable results, maybe it won’t take until 2022, maybe by 2019 we can already comply with the next P1,000,” he said during the press conference.

The SSS has enough funds to support the pension hike this month, said SSS President Emmanuel Dooc.

“This will take effect this month, if I’m not mistaken, but maybe due to some system requirement because we need a re-computation, we need to prepare a table, there may be a slight delay,” said Dooc.

Be informed
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